Accordingto the text, post-completion audit procedures should be performed toevaluate the efficiency and effectiveness of capital budgeting decisionsthat management has implemented. Discuss the purpose of a post-closingreview, and formulate at least five questions that a project managershould answer so that the vice president of finance, who makes the finaldecision to cancel projects or apply the lessons learned to evaluatefuture projects, can determine whether the project is on track to achievethe expected results. Indicate how each variance will provide insight inexplaining deviation from the expected result.Note: The current Chapter 4 in your textbookis incorrect. Please use the Chapter 4: Capital Investment Decision filelocated in the Student Center under eChapters, or click here to download the file.Capitalbudgeting decisions are among the most important decisions facing businessentities. Suggest specific milestones needed to evaluate the performanceof capital projects, and suggest some ways to hold managers accountable forspending overruns. Recommend when capital projects should be abandoned dueto subsequent cost overruns. Support your position.
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